Scroll:Life mathematics >> profit and loss >> saq (4270)

Written Instructions:

For each Multiple Choice Question (MCQ), four options are given. One of them is the correct answer. Make your choice (1,2,3 or 4). Write your answers in the brackets provided..

For each Short Answer Question(SAQ) and Long Answer Question(LAQ), write your answers in the blanks provided.

Leave your answers in the simplest form or correct to two decimal places.


 

1)  

 At what rate per annum will 215 amount to 693 in 2 years , when interest is being compounted annually

%


Answer:_______________




2)  

 At what rate per annum will 407 amount to 629 in 2 years , when interest is being compounted annually

%


Answer:_______________




3)  

 At what rate per annum will 238 amount to 703 in 2 years , when interest is being compounted annually

%


Answer:_______________




4)  

 At what rate per annum will 425 amount to 627 in 2 years , when interest is being compounted annually

%


Answer:_______________




5)  

 At what rate per annum will 350 amount to 636 in 2 years , when interest is being compounted annually

%


Answer:_______________




6)  

 At what rate per annum will 374 amount to 751 in 2 years , when interest is being compounted annually

%


Answer:_______________




7)  

 At what rate per annum will 264 amount to 664 in 2 years , when interest is being compounted annually

%


Answer:_______________




8)  

 At what rate per annum will 396 amount to 665 in 2 years , when interest is being compounted annually

%


Answer:_______________




9)  

 At what rate per annum will 491 amount to 678 in 2 years , when interest is being compounted annually

%


Answer:_______________




10)  

 At what rate per annum will 266 amount to 709 in 2 years , when interest is being compounted annually

%


Answer:_______________




 

1)  

 At what rate per annum will 215 amount to 693 in 2 years , when interest is being compounted annually

Answer: 222 %


SOLUTION 1 :

Given :

  Given  

        P   =   215

        A   =   693

        n   =   2 years

        r    =  

       A   =   P[1+(r÷100)]n

   693   =   215[1+(r÷100)]2    

693÷ 215 =  [1+(r÷100)]2  

3.22325581395                = [1+(r÷100)]2

(3.22325581395)½ = 1+(r÷100)

3.22325581395            =   1+(r÷100)

(3.22325581395)-1        =    r÷100

2.22325581395 x 100  = r

222 %     =  r

 



2)  

 At what rate per annum will 407 amount to 629 in 2 years , when interest is being compounted annually

Answer: 55 %


SOLUTION 1 :

Given :

  Given  

        P   =   407

        A   =   629

        n   =   2 years

        r    =  

       A   =   P[1+(r÷100)]n

   629   =   407[1+(r÷100)]2    

629÷ 407 =  [1+(r÷100)]2  

1.54545454545                = [1+(r÷100)]2

(1.54545454545)½ = 1+(r÷100)

1.54545454545            =   1+(r÷100)

(1.54545454545)-1        =    r÷100

0.545454545455 x 100  = r

55 %     =  r

 



3)  

 At what rate per annum will 238 amount to 703 in 2 years , when interest is being compounted annually

Answer: 195 %


SOLUTION 1 :

Given :

  Given  

        P   =   238

        A   =   703

        n   =   2 years

        r    =  

       A   =   P[1+(r÷100)]n

   703   =   238[1+(r÷100)]2    

703÷ 238 =  [1+(r÷100)]2  

2.95378151261                = [1+(r÷100)]2

(2.95378151261)½ = 1+(r÷100)

2.95378151261            =   1+(r÷100)

(2.95378151261)-1        =    r÷100

1.95378151261 x 100  = r

195 %     =  r

 



4)  

 At what rate per annum will 425 amount to 627 in 2 years , when interest is being compounted annually

Answer: 48 %


SOLUTION 1 :

Given :

  Given  

        P   =   425

        A   =   627

        n   =   2 years

        r    =  

       A   =   P[1+(r÷100)]n

   627   =   425[1+(r÷100)]2    

627÷ 425 =  [1+(r÷100)]2  

1.47529411765                = [1+(r÷100)]2

(1.47529411765)½ = 1+(r÷100)

1.47529411765            =   1+(r÷100)

(1.47529411765)-1        =    r÷100

0.475294117647 x 100  = r

48 %     =  r

 



5)  

 At what rate per annum will 350 amount to 636 in 2 years , when interest is being compounted annually

Answer: 82 %


SOLUTION 1 :

Given :

  Given  

        P   =   350

        A   =   636

        n   =   2 years

        r    =  

       A   =   P[1+(r÷100)]n

   636   =   350[1+(r÷100)]2    

636÷ 350 =  [1+(r÷100)]2  

1.81714285714                = [1+(r÷100)]2

(1.81714285714)½ = 1+(r÷100)

1.81714285714            =   1+(r÷100)

(1.81714285714)-1        =    r÷100

0.817142857143 x 100  = r

82 %     =  r

 



6)  

 At what rate per annum will 374 amount to 751 in 2 years , when interest is being compounted annually

Answer: 101 %


SOLUTION 1 :

Given :

  Given  

        P   =   374

        A   =   751

        n   =   2 years

        r    =  

       A   =   P[1+(r÷100)]n

   751   =   374[1+(r÷100)]2    

751÷ 374 =  [1+(r÷100)]2  

2.00802139037                = [1+(r÷100)]2

(2.00802139037)½ = 1+(r÷100)

2.00802139037            =   1+(r÷100)

(2.00802139037)-1        =    r÷100

1.00802139037 x 100  = r

101 %     =  r

 



7)  

 At what rate per annum will 264 amount to 664 in 2 years , when interest is being compounted annually

Answer: 152 %


SOLUTION 1 :

Given :

  Given  

        P   =   264

        A   =   664

        n   =   2 years

        r    =  

       A   =   P[1+(r÷100)]n

   664   =   264[1+(r÷100)]2    

664÷ 264 =  [1+(r÷100)]2  

2.51515151515                = [1+(r÷100)]2

(2.51515151515)½ = 1+(r÷100)

2.51515151515            =   1+(r÷100)

(2.51515151515)-1        =    r÷100

1.51515151515 x 100  = r

152 %     =  r

 



8)  

 At what rate per annum will 396 amount to 665 in 2 years , when interest is being compounted annually

Answer: 68 %


SOLUTION 1 :

Given :

  Given  

        P   =   396

        A   =   665

        n   =   2 years

        r    =  

       A   =   P[1+(r÷100)]n

   665   =   396[1+(r÷100)]2    

665÷ 396 =  [1+(r÷100)]2  

1.67929292929                = [1+(r÷100)]2

(1.67929292929)½ = 1+(r÷100)

1.67929292929            =   1+(r÷100)

(1.67929292929)-1        =    r÷100

0.679292929293 x 100  = r

68 %     =  r

 



9)  

 At what rate per annum will 491 amount to 678 in 2 years , when interest is being compounted annually

Answer: 38 %


SOLUTION 1 :

Given :

  Given  

        P   =   491

        A   =   678

        n   =   2 years

        r    =  

       A   =   P[1+(r÷100)]n

   678   =   491[1+(r÷100)]2    

678÷ 491 =  [1+(r÷100)]2  

1.38085539715                = [1+(r÷100)]2

(1.38085539715)½ = 1+(r÷100)

1.38085539715            =   1+(r÷100)

(1.38085539715)-1        =    r÷100

0.380855397149 x 100  = r

38 %     =  r

 



10)  

 At what rate per annum will 266 amount to 709 in 2 years , when interest is being compounted annually

Answer: 167 %


SOLUTION 1 :

Given :

  Given  

        P   =   266

        A   =   709

        n   =   2 years

        r    =  

       A   =   P[1+(r÷100)]n

   709   =   266[1+(r÷100)]2    

709÷ 266 =  [1+(r÷100)]2  

2.66541353383                = [1+(r÷100)]2

(2.66541353383)½ = 1+(r÷100)

2.66541353383            =   1+(r÷100)

(2.66541353383)-1        =    r÷100

1.66541353383 x 100  = r

167 %     =  r